Signposts to the Provision of Market Led Micro-Financial Services

• by David Cracknell
• Feb 4, 2003
• 1 min
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This note discusses ‘signposts’ to the provision of market-led microfinance services. These signposts reflect MicroSave’s experience with its Action Research Partners.

There is increasing discussion of ‘market led’ microfinance, of placing customers first – but how do we know if an institution is becoming market led? The note discusses ‘signposts’ to the provision of market-led microfinance services such as: the organisation having vision and mission statements which are focused on delivering quality customer responsive financial services; the Board that maintains vision and mission; the Executive function which focuses on its customers and takes up supportive activities; the bank that develops and retains customer focused staff through investing in training, internal communications, innovative mechanism to build staff capacity, well-designed incentive schemes; the bank that retains a strong customer focus throughout its “front office” operations and Back office operations that support continually improving products and processes. These signposts reflect MicroSave’s experience with its Action Research Partners